Aditya Birla Group grows 17% in H1 FY10

Last Updated: Wednesday, November 11, 2009 - 21:23

Mumbai: Financial services provider,
Aditya Birla Financial Services Group (ABFSG) today said it
clocked a 17 per cent y-o-y growth in revenues at Rs
2,312-crore during the first half of this fiscal.

This growth has been led by its life insurance
business closely followed by asset management and retail
broking businesses, the company said in a statement here.

"We are committed to being a leader and role model in
a broad-based and integrated business and the customer will
always be at the center of our strategy. Our results continue
to reflect the success of this strategy," Aditya Birla Group,
Chief Executive (Financial Services), Ajay Srinivasan, said.

Birla Sun Life Insurance Company (BSLI) achieved 15
per cent y-o-y growth in total premium income at Rs
2,071.8-crore during the first half of the year, the company
said.

ABFSG has also taken the lead in announcing the
Embedded Value (EV) and Value of New Business (VNB) of its
life insurance business.

The embedded value of Birla Sun Life insurance company
is measured at Rs 3,060-crore as at March 31, 2009.

BSLI`s asset under management registered a 78 per
cent y-o-y growth to reach Rs 13,575-crore as on September
30, 2009.

Bureau Report



First Published: Wednesday, November 11, 2009 - 21:23

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